Having been in the mortgage business since 2004, I can say with certainty there are no perfect people and therefore no perfect borrowers. Even though we are bombarded with what we should do, save 10-15% of our gross income, pay everyone on time, dont get over extended, etc. Life happens. For example, there have been 7 recessions in my lifetime.  In the last 60 years, one third of the time the Dow Jones Industrial Average has been down overall for the year. We had Black Monday in 1987, the Great Recession of 2008-9, the economic impact of Covid 19, the dot com bust in the late 1990s, etc. The point is, even those of us who are financially prepared suffer under the same circumstances. Life and its ups and downs affects all of us. Some recover faster than others based on their profession, education, experience or economic cycle.Why choose a Retirement Mortgage?Then there are the constant pressures of rising costs, inflation, job uncertainty, will Social Security be there for me when I retire, will I be able to afford medical care or long-term care should I need it? What if I outlive my money? Have I saved enough money for retirement? The list is overwhelming.Even if youve followed Dave Ramseys baby steps or tried to, or whichever financial guru you follow, few people live with financial security as they get older. A recent article I read said that 46% of people entering retirement do so with a mortgage, the highest percentage in history.Homeowners all have the same buckets of money that we draw from: wages, investments and home equity. Once we stop working, we are down to investments and home equity. Most seniors I speak with dont want to touch their investments, and more and more people are open to tapping their home equity.How a Retirement Mortgage Works A senior homeowner with 50% or more equity can: 1. Eliminate their monthly PI mortgage payment, that right there gives them some breathing room in their budget. If they have more than 50% home equity, they can 2. Access their equity tax free 3 ways: a) lump sum; b) monthly payments; c) line of credit that earns compound interest. When they draw on the proceeds, they are paid directly to the homeowner and the homeowner can use the proceeds however they wish, except purchase an annuity.So, why are people reluctant to tap their home equity? There are a few reasons. 1. They want to leave the house to their heirs (1% of children want their parents' home); 2. They were taught to pay off your home and not to have any debt, however in recent years fewer people own their homes outright; 3. Seniors have heard that reverse mortgages arent safe, are expensive, they can lose their homes, etc.The truth is, a retirement mortgage also known as a reverse mortgage is the safest mortgage a senior can get. Why is that? They have to complete a 1-hour mandatory in person or phone counseling appointment with an independent 3rd party. When the reverse mortgage funds, about 50% of their home equity is protected from a market correction like we experienced in 2008-9.  With a FHA backed reverse mortgage (aka HECM), the fees are set and capped by HUD. There is never a PI mortgage payment required. These are non-recourse loans, which means the only recourse the lender has is against the home, not against the borrower, their heirs or estate. There is no pre-payment penalty. And they retain ownership on title until they permanently move out. The loan term is age 150 of the youngest borrower!Mortgage Options for RetireesWhen surveyed, 91% of senior homeowners said they want to remain at home and maintain their independence. Also, we know the number one fear a senior has is outliving their money. So, heres what we have.-senior homeowners who want to stay at home-they fear running out of money-many lived a reduced lifestyle while living on a fixed income-they have investments they dont want to liquidate-and home equity that is frozen and not accessible-they are making decisions about reverse mortgages from outdated and inaccurate internet info or uninformed neighbors or well-meaning familyWhen a senior homeowner takes the time to learn about how a reverse mortgage can help them. Their reactions are these: 1. Whats the catch? This sounds too good to be true and 2. How come everyone isnt getting a reverse mortgage?The best thing to do is to explore all options to see if a reverse mortgage makes sense for you. The qualifications are senior friendly, and we can usually close in 30-45 days. Explore your options and see how a reverse mortgage can change your life.Get to Know Kevin A. Guttman Reverse Mortgage SpecialistA retirement mortgage doesnt have to be complicated when you have a professional help you along the way. Contact our team today to get the wheels in motion a (877) 251-9709

We, seniors, face all kinds of changes but who do we trust for guidance? Whether medical, financial needs, or to right-sizing for a more manageable lifestyle and what about all of the stuff in the house? Getting with a trusted professional who understands what we are going thru is vital, one who has years of experience and the professional designations to prove they are the best resource for us is the first big step. Also, by all means check references. When it comes to making a change to your housing needs you will want a Realtor with the Seniors Real Estate Specialist Designation or SRES by your side.  As professionals, we have a wealth of excellent information and contacts who can address your specific needs and empower you to make the best decisions for your future.  Any questions email me at BillBlack@NPDodge.com Editors Note: This article was Submitted by Bill Black, SRES, CRS is a Broker Associate with NP Dodge and may be reached at 402-680-2500 or by email at BillBlack@NPDodge.com

Seniors struggle to stay active due to disabilities, health issues or reduced flexibility. Daily physical activity is critical for one's health. Why is it important for seniors to remain active?Like everyone else, seniors benefit a lot from maintaining active lifestyles. However, reports have found that one in three aging men and one in two aging women do not participate in any physical activity. If your senior loved one is not active, they could be at a higher risk of developing health issues in the future.Here are three ways seniors can remain active:Take daily walksWalking is a good form of cardio. This kind of cardio is low intensity and perfect for seniors. Walking is beneficial for older adults because it helps maintain a healthy weight, strengthen bones, reduce blood pressure and anxiety.Participate in daily activitiesWith many more people spending time alone, it can be tempting for seniors to sit on the couch all day. Moving around the house and doing daily activities helps seniors remain active. They can get into the habit of doing daily chores like cleaning, laundry or cooking.Starting an at-home exercise routineDid you know that exercise helps seniors improve their balance and increases their independence?  The first step for seniors to start working out is finding one that accommodates their needs. If a senior has limited mobility, look at a routine they can do while seated. Seniors who have more mobility could also join a Pilates or yoga class online.Editors Note: This article was submitted by Chelsea Carroll with Akkase Home Health Care.  Contact her at 402-359-1265 or visit their website at www.akkasehhc.com.